10 Steps to Minimize Student Loan Debt

Most students take out loans to fund their college education. This type of debt can be a wise investment, experts say, but students need to carefully consider how much is too much to borrow. These 10 tips can help students keep their student loan debt at a manageable level.


Tuition is only the tip of the iceberg for college expenses. Students should also factor in books, housing, meals and transportation. “People look at tuition and think, ‘Oh, that’s what I need,’” Suzanna de Baca of Ameriprise Financial told U.S. News last year. “They don’t really make a good list of all the different expenses that are involved.


Once students calculate their total costs, they can figure out how to cover their expenses. Grants, scholarships and college savings plans should be used before loans come into play, experts say. Students should also deduct potential earnings from any part-time jobs, like waiting tables, from their total costs to determine what they need

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